3303 Hamilton Way
Los Angeles, CA 90026
2626 sqft | 4 beds | 0.04 acres | #24461519
Description
Located at 3303 Hamilton Way in Los Angeles, CA 90026, this multifamily property offers a blend of stable income and value-add potential in a high-demand neighborhood. Built in 1931, the property comprises three units: one 2-bedroom, 1-bath unit, two 1-bedroom, 1-bath units, and one non-conforming studio. It totals 2,626 sq. ft. of rentable space on an 1,889 sq. ft.lot and is fully occupied on month-to-month leases, providing flexibility for future adjustments or redevelopment. The current gross monthly rent is $5,879, equating to $70,548 annually, with market rents estimated at $8,200 per month or $98,400 annually. This results in a current cap rate of 3.68% and a GRM of 15.59, aligning with area standards. At market rents, the potential cap rate rises to 6.32% with a GRM of 11.18. The property's net income is currently $40,442, with a projected increase to $69,506 at market rates, reflecting a significant upside. Priced at $1,100,000, the property's price per square foot is approximately $419 and $366,667 per door. The building also includes two single-car garages on the ground floor, with the potential for ADU conversion, adding an attractive value-add opportunity for investors.
Interior Details
- Bedrooms4
Property Details
- Acres0.0434
- Square Feet2626
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1931
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,100,000
Other
- MLS #24461519
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: John McCann (#CLW-C127551)
Listing Office: Lyon Stahl Investment Real Estate, Inc. (#CLW-X82195)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.